Economy in Crisis: The State of Working New Jersey

By Norman J. Glickman

The U.S. economy is badly broken: Americans have lost 4.4 million jobs since the recession began in December 2007. Unemployment reached 8.1 percent in February 2009, the highest in a quarter century — and many economists expect it to keep rising at least into 2010. Welcome to The Great Recession.

New Jersey’s once-prosperous economy is also in trouble. Good jobs are disappearing, often replaced by low-paying positions without much prospect for advancement.

This analysis shows that New Jersey, although relatively wealthy, faces some serious problems along with the rest of the country. Employment growth was slower than the nation’s before the recession; reviving the state’s past glory will not occur without significant change in public policy.

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